Altor to Acquire BTI Studios from Carlyle

7/13/17

Global alternative asset manager The Carlyle Group (NASDAQ: CG) and Altor Fund IV announced that they have signed a definitive agreement under which Carlyle will sell BTI Studios to Altor. The transaction is expected to close in Q3 2017, subject to customary closing conditions.

Founded in 1995, BTI Studios has become a global localisation company providing dubbing, subtitling, access services and media solutions across multiple languages to a diverse international customer base. BTI Studios operates 21 facilities across the globe with a network of fully owned sites ranging from a state-of-the-art dubbing facility in Warsaw, Poland to its sales and distribution hub in London handling more than 150,000 hours of dubbing, subtitling and access services for its customer base annually.

Carlyle Europe Technology Partners II, a 2008 vintage fund focused on European technology, media and telecommunications (TMT) companies, invested in BTI Studios in 2013. Since Carlyle’s investment, the Company has delivered sustained organic and in-organic growth.

“BTI Studios is a global company run by a world class management team. We were pleased to support Bjorn Lifvergren and his team in building BTI Studios from a European subtitling company into a global media localisation services provider. Our investment in BTI Studios has demonstrated the expertise we can provide in supporting technology companies to grow internationally,“ says Per Skoglund, Director, at Carlyle Europe Technology Partners.

“Altor is a strong and dynamic partner who shares our strategic views on continued international expansion and product development. During our discussions, Altor demonstrated a genuine understanding of our business model, and we believe them to be the right partner to support our next phase of development,” says Björn Lifvergren, CEO and Founder of BTI Studios.

“BTI Studios is well positioned to continue to capture market growth and share. We are very impressed by BTI Studios’ strong performance track-record, customer reputation and management team,” says Klas Johansson, Partner at Altor.

The Carlyle Group was advised by Arma Partners, Delphi and PWC.

About BTI Studios

BTI Studios is among the world’s largest and most renowned localization companies providing dubbing, subtitling, access services and media solutions in any language.

Founded in 1995 as Broadcast Text, BTI Studios today operates 21 local facilities globally. With a network of fully owned local sites in Europe, Asia and the US.

BTI Studios’ clients are broadcasters, such as BBC Worldwide, Discovery Networks and Turner; major film studios (NBC Universal, Warner, Disney and Fox); and VOD Platforms, such as Amazon, Netflix and Hulu.

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $162 billion of assets under management across 287 investment vehicles as of March 31, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.

About Carlyle Europe Technology Partners

Carlyle Europe Technology Partners (CETP) seeks to invest in European technology, media and telecommunications (TMT) companies. CETP’s European team of advisors provides strategic direction and resources to help accelerate the growth of companies in which CETP has invested and to support their efforts to expand internationally and to open up new market opportunities. The current fund is now the fourth one in the CETP franchise. In total, more than 143 investors from 34 countries have made commitments to CETP funds.

About Altor

Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.8 billion in more than 40 companies. The investments have primarily been made in medium-sized companies with the aim to create value through growth initiatives and operational improvements. Among current investments are Transcom, Carnegie Investment Bank, Rossignol and SATS/Elixia.